DHANUKA Stock Chart

Price action of Dhanuka Agritech exhibits a sustained weakness in Weekly time frame. The stock has consistently formed lowers and lower highs until recently.
By analyzing the recent price action, we could see that the two relatively new lows formed are at the same level indicating that bears might be losing steam. In fact previous weekly candle was huge thereby...

Dhanuka Agri is under process of Forming a Rounding Bottom. It has also break IMP resistance level. It has also given Kumo breakout.
It will be also beneficiary of any positive move in Budget to rural economy.
Buy with a Target of 845 and 910.

Inverted Head& Shoulder pattern seen. A close above 708 would confirm the pattern from where one can initiate long position with 786 as target. 767 area could act as resistance where one can start liquidating longs. Focus on farming sector by the government could be a boost for the stock.

Profile

Sector:Basic Materials

Industry:Agricultural Chemicals

Employees:1100

Dhanuka Agritech Limited is engaged in formulation and marketing of plant protection agro-chemicals, including insecticides, herbicides, fungicides and plant growth regulators. The Company's brand portfolio consists of over 80 products. The Company offers a range of product categories, including Herbicides, such as TARGA SUPER, NABOOD, HOOK, SULTOP, DYNOFOP, CRAZE, WEEDMAR SUPER/WEEDMAR, NOWEED, BARRIER and OZONE; Fungicides, such as Vitavax Power, Vitavax Ultra FF, Kasu-B, Sheathmar, Cursor and Hi-Dice; Insecticides, such as OMITE, CALDAN 4 G, CALDAN 50 SP, DUNET, MARKAR, AAATANK, DHAWA GOLD and AREVA, and Plant Growth Regulators, such as DHANZYME, DHANZYME GOLD, DHANUVIT and WETCIT. The Company offers its crop solutions for various crops, such as soybean, paddy, cotton, sugarcane, potato, chilli, brinjal, onion and garlic, tomato, okra, and cabbage and cauliflower. The Company has a network of approximately 8,800 distributors/dealers and approximately 80,000 retailers across India.